Avoid punitive fees for bounced debit orders
If you cannot honour an authorised debit order due to affordability, you are within your rights to cancel or stop it with your service provider
The financial effects of the Covid-19 pandemic has called for careful management of our money, including making sure our debit orders don’t bounce.
When a debit order bounces due to insufficient funds in your account, banks typically hit you with a punitive fee. The fee can be a flat fee per returned debit order or it can be charged according to a tiered structure, where your fee escalates in line with the number of unpaid debit orders in a year. ..